The Nigerian Exchange Limited (NGX) witnessed a significant boost in trading activities this week as a total turnover of 4.698bn shares worth N85.04bn exchanged hands in 72,562 deals.
This represents a notable increase compared to the 2.618 billion shares valued at N69.742bn traded last week across 47,953 deals.
The NGX All-Share Index (ASI) and Market Capitalization also recorded growth, appreciating by 1.80 per cent to close the week at 105,451.06 points and N64.303trn, respectively.
Most indices finished higher during the week, with the exception of the NGX Insurance, NGX AFR Bank Value, NGX AFR Div Yield, NGX MERI Value, NGX Consumer Goods, NGX Oil and Gas, and NGX Industrial Goods indices, which posted declines of 6.91 per cent, 0.08 per cent, 1.11 per cent, 0.17 per cent, 0.34 per cent, 0.34 per cent, and 0.26 per cent, respectively. Meanwhile, the NGX ASeM Index remained unchanged.
The Financial Services Industry emerged as the most active sector, dominating the activity chart by volume.
It recorded 3.470 billion shares valued at N40.79bn traded in 34,364 deals, contributing 73.86 per cent and 47.97 per cent to the total equity turnover volume and value, respectively.
The Services Industry followed with 407.032 million shares worth N2.23bn traded in 4,996 deals. The ICT Industry claimed the third spot with a turnover of 237.680m shares worth N3.63bn in 5,280 deals.
Wema Bank Plc, FBN Holdings Plc, and Universal Insurance Plc stood out among the top traded equities by volume.
These three companies collectively accounted for 1.679 billion shares valued at N20.84bn traded in 4,922 deals. This represents 35.74 per cent of the total equity turnover volume and 24.50 per cent of the total value.
In terms of market breadth, fifty-one equities appreciated in price during the week, a decline from the eighty-two gainers recorded in the previous week.
Conversely, thirty-nine equities depreciated in price, higher than the eighteen losers of the prior week. Sixty-two equities remained unchanged, an increase from the fifty-two recorded last week.
This week’s performance highlights a robust increase in market activity, underpinned by significant trading in key sectors.
Despite mixed performance among various indices, the overall growth in the NGX All-Share Index and Market Capitalization underscores sustained investor confidence in the market.
Stakeholders will look forward to the coming week with optimism for continued positive momentum.